Ticker: China sanctions 5 defense companies; Tesla recalls 1.6 million EVs exported to China
China announced sanctions Sunday on five American defense-related companies in response to U.S. arms sales to Taiwan and U.S sanctions on Chinese companies and individuals.
The sanctions will freeze any property the companies have in China and prohibit organizations and individuals in China from doing business with them, the Foreign Ministry said in a statement posted online.
It was unclear what impact, if any, the sanctions would have on the companies, BAE Systems Land and Armaments, Alliant Techsystems Operations, AeroVironment, Viasat and Data Link Solutions. Such sanctions are often mostly symbolic as American defense contractors generally don’t sell to China.
The Foreign Ministry said the U.S. moves harmed China’s sovereignty and security interests, undermined peace and stability across the Taiwan Strait and violated the rights and interests of Chinese companies and individuals.
Tesla recalls 1.6 million EVs exported to China
Tesla is recalling more than 1.6 million Model S, X, 3 and Y electric vehicles exported to China for problems with their automatic assisted steering and door latch controls.
China’s State Administration for Market Regulation announced the recall on Friday. It said Tesla Motors in Beijing and Shanghai would use remote upgrades to fix the problems, so in most cases car owners would not need to visit Tesla service centers.
The recall due to problems with the automatic steering assist function applies to 1.6 million imported Tesla Model S, Model X, Model 3 and Model Ys.
When the automatic steering function is engaged, drivers might misuse the combined driving function, increasing a risk of accidents, the notice said.
The recalls follow a recall in the U.S. last month of more than 2 million of Tesla EVs to improve its system for monitoring drivers.